DWP claims most bosses support automatic enrolment in work pension schemes

MORE than half of all employers (56%) and most eligible individuals (64%) support government plans for automatic enrolment into a workplace pension scheme from 2012, claims research from the Department for Work and Pensions (DWP).

MORE than half of all employers (56%) and most eligible individuals (64%) support government plans for automatic enrolment into a workplace pension scheme from 2012, claims research from the Department for Work and Pensions (DWP).

The government wants more people to save, with around 7m people currently not saving enough to deliver the pension income they are likely to want, or expect, in retirement, and 2.5m fewer employees saving in a private sector occupational pension than in 1995.

DWP Minister Lord Freud said: “With only around half of employees saving into a workplace pension our planned reforms are needed to prevent millions of Britons facing a penny-pinching retirement.

“It is encouraging that, despite the recession, the majority of employers are still in favour of pension savings.

“We will work with business and industry to make automatic enrolment work, so we can give millions more people the chance to save, and an independent review team is currently looking at how we get the details right.”

The government launched its independent review in June. A team of independent experts will report in the autumn.